This strategy combines Bollinger Bands, Bollinger Band Width, and the Relative Strength Index (RSI) for mean-reversion trades. It enters long when price crosses below the lower band with oversold RSI, or when band width contracts under low volatility. Short en
Strategy · Pine Script v5 · On the chart
MEMA + BB + RSI [Alorse]
This mean-reversion strategy combines multi-timeframe exponential moving averages, Bollinger Bands, and the Relative Strength Index.
GitHub stars330on the repository
Pine versionv5runs as is
Lines of code109
Settings20inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
MEMA + BB + RSI [Alorse] generates long and optional short trade signals when price interacts with the Bollinger Bands alongside RSI threshold confirmations and moving average alignments. The strategy plots Bollinger Bands directly on the price chart. Users can configure timeframes and lengths for both EMAs, Bollinger Band parameters, RSI thresholds, and toggle percentage-based stop-loss, take-profit, or bar-count exits. Stop loss and take profit are disabled by default.
- Multi-timeframe exponential moving average filters
- Bollinger Bands overlay for mean-reversion signals
- Relative Strength Index momentum filtering
- Configurable percentage stop-loss and take-profit targets
- Optional time-based exit after a fixed number of bars
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Mean reversion, Moving averages, Volatility & bands, Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Version | string | txtVer | version |
| Source | source | close | src |
| Periods | int | 10 | ma1 |
| Timeframe | timeframe | 1D | res1 |
| Periods | int | 55 | ma2 |
| Timeframe | timeframe | 1D | res2 |
| ╔═════ Show Bollinger Bands ═════╗ | bool | true | isBB |
| Length | int | 20 | length |
| StdDev | float | 2.0 | mult |
| Offset | int | 0 | offset |
| Length | int | 14 | lenRSI |
| Oversold | int | 71 | oversold |
Show all 20 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Long entries | bool | true | showLong |
| Short entries | bool | false | showShort |
| Close after X # bars | bool | false | closeAfterXBars |
| # bars | int | 12 | xBars |
| ╔══════ Enable ══════╗ | bool | false | useSL |
| Percent | float | 10 | SLPercent |
| ╔══════ Enable ══════╗ | bool | false | useTP |
| Percent | float | 10 | TPPercent |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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